Your Home Equity Can Offset Affordability Challenges

Written by super22 on September 19, 2023. Posted in For Sellers, Housing Market Updates, Interest Rates, Selling Myths, Upper Keys, Upper Keys Florida Mortgage, Upper Keys History, Upper Keys Mortgage, Upper Keys News.

Are you thinking about selling your house? If so, today’s mortgage rates may be making you wonder if that’s the right decision. Some homeowners are reluctant to sell and take on a higher mortgage rate on their next home. If you’re worried about this too, know that even though rates are high right now, so is home equity. Here’s what you need to know.Bankrate explains exactly what equity is and how it grows:“Home equity is the portion of your home that you’ve paid off and own outright. It’s the difference between what the home is worth and how much is still owed on your mortgage. As your home’s...

Are More Homes Coming onto the Market?

Written by super22 on September 18, 2023. Posted in For Sellers, Housing Market Updates, Selling Myths, Upper Keys, Upper Keys Florida Mortgage, Upper Keys History, Upper Keys Mortgage, Upper Keys News.

An important factor shaping today’s market is the number of homes for sale. And, if you’re considering whether or not to list your house, that’s one of the biggest advantages you have right now. When housing inventory is this low, your house will stand out, especially if it’s priced right.But there are some early signs that more listings are coming. According to the latest data, new listings (homeowners who just put their house up for sale) are trending up. Here’s a look at why this is noteworthy and what it may mean for you.More Homes Are Coming onto the Market than UsualIt’s well known that...

Plenty of Buyers Are Still Active Today [INFOGRAPHIC]

Written by super22 on September 15, 2023. Posted in For Sellers, Housing Market Updates, Infographics, Selling Myths, Upper Keys, Upper Keys Florida Mortgage, Upper Keys History, Upper Keys Mortgage, Upper Keys News.

Some HighlightsHolding off on selling your house because you believe there aren’t any buyers out there?Data shows buyers are still active, even with higher mortgage rates. This goes to show, people still want to buy homes, and those who can are moving now.Don’t delay your plan to sell for fear no one is buying. The opposite is true and buyer traffic is still strong today. Connect with a real estate agent to get your house in front of these buyers.

Why Is Housing Inventory So Low?

Written by super22 on September 14, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Interest Rates, New Construction, Upper Keys, Upper Keys Florida Mortgage, Upper Keys History, Upper Keys Mortgage, Upper Keys News.

One question that’s top of mind if you’re thinking about making a move today is: Why is it so hard to find a house to buy? And while it may be tempting to wait it out until you have more options, that’s probably not the best strategy. Here’s why.There aren’t enough homes available for sale, but that shortage isn’t just a today problem. It’s been a challenge for years. Let’s take a look at some of the long-term and short-term factors that have contributed to this limited supply.Underbuilding Is a Long-Standing ProblemOne of the big reasons inventory is low is because builders haven’t been building...

Planning to Retire? Your Equity Can Help You Make a Move

Written by super22 on September 11, 2023. Posted in Demographics, For Sellers, Selling Myths, Upper Keys, Upper Keys Florida Mortgage, Upper Keys History, Upper Keys Mortgage, Upper Keys News.

Reaching retirement is a significant milestone in life, bringing with it a lot of change and new opportunities. As the door to this exciting chapter opens, one thing you may be considering is selling your house and finding a home better suited for your evolving needs.Fortunately, you may be in a better position to make a move than you realize. Here are a few reasons why.Consider How Long You’ve Been in Your HomeFrom 1985 to 2009, the average length of time homeowners stayed in their homes was roughly six years. But according to the National Association of Realtors (NAR), that number is higher...

Why It’s Still a Seller’s Market Today

Written by super22 on September 4, 2023. Posted in For Sellers, Housing Market Updates, Selling Myths, Upper Keys, Upper Keys Florida Mortgage, Upper Keys History, Upper Keys Mortgage, Upper Keys News.

Even though activity in the housing market has slowed from the frenzy that was the ‘unicorn’ years, it’s still a seller’s market because the supply of homes for sale is so low. But what does that really mean for you? And why are conditions today so good if you want to sell your house?The latest Existing Home Sales Report from the National Association of Realtors (NAR) shows housing supply is still astonishingly low. Housing inventory is measured by the number of available homes on the market. It’s also measured by months’ supply, meaning the number of months it would take to sell all those available...

Homeowners Have a Lot of Equity Right Now [INFOGRAPHIC]

Written by super22 on September 1, 2023. Posted in For Sellers, Housing Market Updates, Infographics, Upper Keys, Upper Keys Florida Mortgage, Upper Keys History, Upper Keys Mortgage, Upper Keys News.

Some HighlightsYour equity grows as you pay down your home loan and as home prices increase. With home prices rising again, your equity is getting an extra boost.Almost half of homeowners are equity rich because they have at least 50% equity in their homes. If you’ve been in your home for a while, you might have gained a considerable amount of equity, too.Want to find out how much equity you have? Connect with a trusted real estate agent for a Professional Equity Assessment Report (PEAR).

How Inflation Affects the Housing Market

Written by super22 on August 31, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Interest Rates, Upper Keys, Upper Keys Florida Mortgage, Upper Keys History, Upper Keys Mortgage, Upper Keys News.

Have you ever wondered how inflation impacts the housing market? Believe it or not, they’re connected. Whenever there are changes to one, both are affected. Here’s a high-level overview of the connection between the two.The Relationship Between Housing Inflation and Overall InflationShelter inflation is the measure of price growth specific to housing. It comes from a survey of renters and homeowners that’s done by the Bureau of Labor Statistics (BLS). The survey asks renters how much they’re paying in rent, and homeowners how much they’d rent their homes for, if they weren’t living in them.Much...

Buyer Traffic Is Still Stronger than the Norm

Written by super22 on August 30, 2023. Posted in Demographics, For Sellers, Housing Market Updates, Selling Myths, Upper Keys, Upper Keys Florida Mortgage, Upper Keys History, Upper Keys Mortgage, Upper Keys News.

Are you putting off selling your house because you’re worried no one’s buying because of where mortgage rates are? If so, know this: the latest data shows plenty of buyers are still out there, and they’re purchasing homes today. Here’s the data to prove it.The ShowingTime Showing Index is a measure of buyers touring homes. The graph below uses the latest numbers available and compares them to the same month in the last normal years to show just how active today’s buyers still are:As you can see, when June 2023 numbers are stacked alongside what’s typical for the housing market at this time of...

Why You May Still Want To Sell Your House After All

Written by super22 on August 29, 2023. Posted in Demographics, For Sellers, Selling Myths, Upper Keys, Upper Keys Florida Mortgage, Upper Keys History, Upper Keys Mortgage, Upper Keys News.

Even though you may feel reluctant to sell your house because you don’t want to take on a mortgage rate that’s higher than the one you have now, there’s more to consider. While the financial side of things does matter, your personal needs may actually matter just as much. As an article from Bankrate says:“Deciding whether it’s the right time to sell your home is a very personal decision. There are numerous important questions to consider, both financial and lifestyle-based, before putting your home on the market.”So, ask yourself this: why did I want to move in the first place?Chances are your...

Category: For Sellers